State Farm vs. GEICO

State Farm and Berkshire Hathaway-owned GEICO are the largest and 14th-largest insurance companies in the country, respectively.1 These two providers offer more than a dozen types of insurance, including personal policies and business policies. State Farm and GEICO have many decades of industry experience and are among the most popular insurance companies on the market.

To see which company is better, we compared State Farm and GEICO based on factors like policy offerings, discounts, and customer service. Overall, we found that GEICO has cheaper premiums and more discounts, but State Farm has more comprehensive commercial insurance offerings. State Farm also has a wider network of agents than GEICO.

 

State Farm vs. GEICO: Auto Insurance

At-a-Glance

State Farm GEICO
Geographic availability Nationwide Nationwide
Discount opportunities 13 19
Customer service Phone, online, in-person Phone, chat, online, email, in-person
Claims processing Phone, online, mobile app Phone, online, mobile app
NAIC complaint score 1.61 (above average)2 2.01 (above average)3
AM Best rating A++4 A++5

Coverage

GEICO and State Farm both offer minimum and full coverage car insurance policies. However, the exact amount of coverage you can buy will depend on where you live.

State Farm GEICO
Personal liability insurance Yes, amount varies Yes, amount varies
Collision insurance Yes, amount varies Yes, amount varies
Comprehensive insurance Yes, amount varies Yes, amount varies
Medical payments insurance Yes, amount varies Yes, amount varies
Uninsured motorist insurance Yes, amount varies Yes, amount varies
Underinsured motorist insurance Yes, amount varies Yes, amount varies

State Farm stopped accepting new applications for home insurance in California, including all business and personal lines property and casualty insurance, on May 27, 2023. Existing policies and personal auto insurance policies were not impacted by this change.6

Riders 

Riders are optional coverages that you can add to your car insurance policy for additional protection in specific areas. Based on our research, neither company offers many riders—both offer four endorsements, which is fewer than many of their competitors.

State Farm GEICO
Rental car reimbursement Yes Yes
Rideshare insurance Yes Yes
Roadside assistance Yes Yes
Accident forgiveness Yes Yes
Mechanical breakdown insurance No Yes

Rates and Discounts 

Auto insurance rates are personalized for every driver, and discounts can help you get a lower rate. GEICO and State Farm both stand out for their impressive car insurance discounts, but GEICO offers a few more discounts than State Farm. It also has savings for military personnel, federal employees, and employer/membership affinity groups.

State Farm GEICO
Smart student Yes Yes
Distant student Yes No
Multi-vehicle Yes Yes
Multi-policy Yes Yes
Air bag Yes Yes
Anti-lock brakes No Yes
Alarm system Yes Yes
Daytime running lights No Yes
Seat belt usage No Yes
Defensive driving course Yes Yes
Driver’s education course Yes Yes
Emergency deployment No Yes
Military No Yes
Federal employee No Yes
Affinity group No Yes
Safe driver reward program Yes Yes
Pay in full Yes Yes
Automatic payments Yes Yes
Claim-free Yes Yes
New vehicle Yes Yes

State Farm vs. GEICO: Home Insurance

At-a-Glance

State Farm GEICO
Geographic availability Nationwide Nationwide
Discount opportunities 5 4
Customer service Phone, online, in-person Phone, chat, online, email, in-person
Claims processing Phone, online, mobile app Phone, online, mobile app
NAIC complaint score 1.61 (below average)2 2.01 (above average)3
AM Best rating A++4 A++5

Coverage

You can get a standard homeowners insurance policy from GEICO or State Farm, but the amount of coverage varies depending on where you live, the size and age of your home, and other unique factors.

State Farm GEICO
Dwelling insurance Yes, amount varies Yes, amount varies
Other structures coverage Yes, amount varies Yes, amount varies
Personal property insurance Yes, amount varies Yes, amount varies
Personal liability insurance Yes, amount varies Yes, amount varies
Medical payments coverage Yes, amount varies Yes, amount varies
Loss of use insurance Yes, amount varies Yes, amount varies

Riders 

State Farm and GEICO offer limited home insurance riders, so neither company is a great option if you’re looking to customize a policy with add-ons. We’ve included the available riders from both companies in the table below.

State Farm GEICO
Inflation guard Yes No
Personal umbrella insurance Yes Yes
Flood insurance Yes Yes

Rates and Discounts 

Every homeowner pays a different rate for insurance based on unique circumstances, like their zip code, credit score, and claim history. However, you can save money by taking advantage of discounts. We found that State Farm has better homeowners insurance discounts than GEICO, which are listed below.

State Farm GEICO
Multi-policy Yes Yes
Security system Yes Yes
Impact-resistant roof Yes No
Fire alarm Yes Yes
Pay in full Yes Yes

State Farm vs. GEICO: Renters Insurance

At-a-Glance

State Farm GEICO
Geographic availability Nationwide Nationwide
Discount opportunities 4 4
Customer service Phone, online, in-person Phone, chat, online, email, in-person
Claims processing Phone, online, mobile app Phone, online, mobile app
NAIC complaint score 1.61 (below average)2 2.01 (above average)7
AM Best rating A++4 A++5

Coverage

Standard renters insurance policies come with four types of coverage, which are sold by State Farm and GEICO. To find out how much coverage you can purchase, we recommend getting a personalized rate quote online.

State Farm GEICO
Personal property insurance Yes, amount varies Yes, amount varies
Personal liability insurance Yes, amount varies Yes, amount varies
Medical payments insurance Yes, amount varies Yes, amount varies
Loss of use insurance Yes, amount varies Yes, amount varies

Riders 

When it comes to renters insurance riders, State Farm is the clear winner. State Farm offers six riders, and GEICO only offers two. If you’re looking to personalize your policy and fill gaps in your coverage, we recommend going with State Farm.

State Farm GEICO
Flood insurance Yes Yes
Personal liability umbrella insurance Yes Yes
Earthquake insurance Yes No
Business property insurance Yes No
Incidental business liability insurance Yes No
Identity restoration coverage Yes No

Rates & Discounts 

Renters insurance is usually inexpensive, but your rate will depend on things like your city and state, age, and claim history. State Farm and GEICO both offer a handful of discounts that can help you get a lower renters insurance premium.

State Farm GEICO
Multi-policy Yes Yes
Security system Yes Yes
Fire alarm Yes Yes
Pay in full Yes Yes

State Farm vs. GEICO: Commercial Insurance

At-a-Glance

State Farm GEICO
Geographic availability Nationwide Nationwide
Discount opportunities 0 0
Customer service Phone, online, in-person Phone, chat, online, email, in-person
Claims processing Phone, online, mobile app Phone, online, mobile app
NAIC complaint score 1.61 (above average)2 2.01 (above average)3
AM Best rating A++4 A++5

Coverage

If you’re a small business owner, State Farm is one of the best insurance companies for commercial insurance. The company offers more than 15 different business insurance products, which is significantly more than GEICO sells. However, GEICO sells malpractice insurance, so it may be a better option if you work in the health care field.

State Farm GEICO
Commercial auto insurance Yes, amount varies Yes, amount varies
Commercial property insurance Yes, amount varies Yes, amount varies
Medical malpractice insurance No Yes, amount varies
Commercial liability umbrella insurance Yes, amount varies No
Business owners policy (BOP) Yes, amount varies Yes, amount varies
Workers’ compensation Yes, amount varies Yes, amount varies
Surety and fidelity bonds Yes, amount varies No
Builder’s risk insurance Yes, amount varies No
General liability insurance Yes, amount varies Yes, amount varies
Professional liability insurance Yes, amount varies Yes, amount varies
Cyber liability insurance No Yes, amount varies
Employment practices liability insurance Yes, amount varies No
Employers non-owned car liability insurance Yes, amount varies No
Farm and ranch insurance Yes, amount varies No
Key employee insurance Yes, amount varies No
Employee health insurance Yes, amount varies No
Employee life insurance Yes, amount varies No
Employee disability insurance Yes, amount varies No

Riders 

State Farm and GEICO don’t mention any business insurance riders on their websites. If you’re looking for a specific type of coverage, we recommend reaching out to a GEICO or State Farm agent to see if the endorsement is available in your state.

Rates and Discounts 

The cost of business insurance is based on the industry you’re in, the number of employees you have, the risk your employees face on the job, and more. Neither State Farm nor GEICO advertise any business insurance discounts online, but you might be able to get a multi-policy discount if you purchase two or more business insurance policies from the same company.

State Farm vs. GEICO: Other Insurance Products

State Farm and GEICO offer lots of insurance products besides auto, home, renters, and commercial coverage. Most of State Farm’s and GEICO’s policies, with the exception of pet insurance and a few others, are underwritten in-house. The table below includes a full list of the other insurance products available from State Farm and GEICO.

State Farm GEICO
Motorcycle insurance Yes Yes
Boat insurance Yes Yes
Classic car insurance Yes Yes
RV insurance Yes Yes
Mexico auto insurance No Yes
Off-road vehicle insurance Yes Yes
Condo insurance Yes Yes
Landlord insurance Yes Yes
Personal articles insurance Yes Yes
Manufactured home insurance Yes Yes
Farm and ranch insurance Yes No
Identity theft insurance Yes Yes
Individual life insurance Yes Yes
Individual health insurance Yes No
Pet medical insurance Yes Yes
Umbrella insurance Yes Yes
Travel insurance No Yes
Overseas insurance No Yes
Individual disability insurance Yes No
Flood insurance Yes Yes

State Farm vs. GEICO: Customer Service

When it comes to customer service, GEICO and State Farm have similar options. You can get in touch with an agent via phone during business hours, by visiting a local office, or through the online customer portal. GEICO also offers email assistance options, as well as live chat and 24/7 phone support for current policyholders.8 If you have auto or property insurance, both companies make it easy to get in touch online or through the app.

When choosing between State Farm and GEICO, it’s also important to understand the differences in their business models. If you purchase a policy from State Farm, you’ll be assigned a personal agent who will handle all your insurance needs. With GEICO, you don’t get matched with an agent, so you have to rely on the call center if you need assistance.

If you value insurance companies with good customer service, State Farm is probably your best option. You’ll get more personalized attention, and probably have better agent interactions.

State Farm vs. GEICO: Claims

GEICO and State Farm have easy claims processes. For auto, home, or renters insurance, you can file a claim online, over the phone, or through the mobile app. You’ll be asked to provide your policy number, then provide a description of the event and share photos of the damage. Then, you will be assigned an adjuster who will oversee your claim. If you have any policy besides the those mentioned above, you’ll have to call an agent to start the claim process.

State Farm vs. GEICO: Customer Satisfaction

Customer satisfaction is extremely important to consider when choosing an insurance company. To gauge the overall customer satisfaction for GEICO and State Farm, we read online reviews from current and past policyholders.

For GEICO, customers were generally happy with the company’s affordable policies, discount options, and mobile app and web experience. However, a significant number of consumers complained about GEICO’s flawed claims handling process, with denied claims, lower-than-expected payouts, and unfriendly agents being recurring issues. Many also complained of rate hikes.9

State Farm’s customer reviews also indicate slow claims handling, payout issues, and pricey premiums. On the other hand, we saw many reviews praising State Farm’s friendly customer service agents, easy policy management, and multi-policy discount options.7

State Farm vs. GEICO: Getting a Quote

Getting a quote from State Farm or GEICO is simple, and both companies have online quotes if you prefer to not call an agent. For most policies, the process only takes a few minutes. You’ll be asked to share some personal details, and provide other information used to determine your policy premium. If you’re satisfied with the quote, you can purchase most policies online.

Methodology

To compare GEICO and State Farm, we focused on four popular policies—auto, home, renters, and commercial insurance. We evaluated each product based on the policies offered, rates, discounts available, and riders.

We also considered each company’s area of availability, AM Best score, and NAIC Company Complaint Index rating. The NAIC index tells you the ratio of complaints compared to the market share of the company–ratios below 1.0 show a company that has fewer complaints than expected for its size.

Finally, we compared GEICO and State Farm based on their customer service options, claim and quote processes, and customer satisfaction reviews.

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